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ONGC aims to Double Gas Production in 5-6 years

State-Owned Oil and Natural Gas Corp (ONGC) today said it intends to twofold gas generation to more than 100 million standard cubic meters for every day in the following 5-6 years.

In an announcement issued on Independence Day festivities at the organization’s central command in Dehradun, ONGC said in spite of tumbling oil costs over the most recent three years, it not just supported generation from existing fields through incremental sources of info yet has likewise taken expansive important and computed venture choices to guarantee maintained volumes and budgetary development.

Government is focusing on increment in offer of gas in the vitality crate from 6.5 for every penny to 15 for every penny in the following couple of years.

ONGC said 17 ventures with a consolidated capex of Rs 76,000 crore have been endorsed over the most recent three years.

“These activities would create 69 million tons of unrefined petroleum and 118 billion cubic meters of gaseous petrol amid their profile period. Combined creation from these undertakings would top amid 2020-21 at 6.65 million tons of rough and 13.38 BCM of gas which is 45 for each penny of organization’s oil and gas independent generation amid FY17,” it said.

Its lead extend incorporates Cluster-II in Bay of Bengal square KG-DWN-98/2 (KG-D5). The venture would deliver around 25 million tons of oil and 50 BCM of gas over the life of the venture with top creation of 4 million tons of oil and 5.5 BCM of gas.

This would be equal to 17 for every penny and 24 for each penny of ONGC’s present independent oil and gas creation, separately.

Amid the most recent three years, ONGC finished 15 generation related tasks (counting 8 brownfield and 7 greenfield) with capital venture of Rs 54,000 crore.

“These would create 87 million tons of rough and 56 BCM of gas amid their profile period,” the announcement stated, including amid FY17, ONGC delivered 5 million tons of unrefined and 3.5 BCM of gas from these ventures, which is 22 for each penny and 16 for each penny of its independent rough and gas generation, individually.

Expressing that it made 23 hydrocarbon finds with an aggregate save gradual addition of 65 million tons of oil identical in 2016-17, ONGC said its inland resources have switched declining pattern underway, persevering for quite a while, by enlisting unrefined generation at 5.97 million tons in FY17 as against 5.82 million tons in FY16.

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